The Tenas Project is located in north-west British Columbia, Canada, 375 km by both rail and road to the well-established deep water port of Prince Rupert and the Trigon Pacific Terminals Limited (formally Ridley Island).
The key attractions of the project:
- Low mining strip ratio.
- Long life project.
- Conventional opencast mining methods with standard coal processing.
- Tier 1 Mining jurisdiction.
- Access to water, power, workforce, and services.
- Unique close access to existing rail and port infrastructure.
- Significant port capacity available.
- Alignment to existing long-term ‘direct customer relationships’.
Richard Tacon, Bathurst CEO, comments:
“A strong operational performance and our capital management strategy have positioned Bathurst to exploit this type of acquisition. In the Tenas Coking Coal Project, we have a commodity in high demand globally, and in which we have proven expertise and existing clients. The project is also well-located in a Tier One jurisdiction in which we have invested since 2018, and in which we are very comfortable. Finally, the acquisition has been secured at a price and on terms that are clearly opportunistic for our shareholders.”
